A Â鶹´«Ã½Ó³»climate-tech venture capital company is investing $7.5 million in seed capital in three startups out of its newest $70 million fund.
Active Impact Investments has had two previous funds, and currently has $140 million in funding under management. Its third fund has raised $70 million to date.
The climate-tech focused venture capital firm announced three new investments totalling $7.5 million under the new fund. One of the companies receiving seed funding is Lumo, a smart irrigation technology company based in California.
The second company is ThinkLabs AI, a New York-based company that developed an AI “copilot” for optimizing electrical grid operations.
A third Canadian company receiving funds is not named as it is still in “stealth” mode, Active Impact Investments said.
"Our third investment will be announced soon, but I can share that it is run by a successful past founder and team that sold their prior company to Google," said Mike Winterfield, founder and managing partner for Active Impact Investments.
"They offer a solution that many homeowners in British Columbia and across North America will be interested in, from an energy and cost saving perspective.”
Active Impact Investments measures its investments in terms of avoided greenhouse gas emissions.
"With over $140 (million) in assets under management, Active Impact Investments has mitigated over one million tonnes of CO2e through its portfolio companies and aims to see its third fund mitigate 10 million tonnes of CO2e on its own," the company said.
